Bradenton, Fla. (Dec. 23, 2020) – SUNZ Holdings, LLC (“SUNZ”) announced today that funds managed by Blackstone Tactical Opportunities (“Blackstone”) have acquired a significant stake in the company to help fuel SUNZ’s continued expansion. Terms of the transaction were not disclosed.
SUNZ is a leading provider of workers compensation insurance and related services such as policy administration, claims administration and customer support. SUNZ delivers technologically advanced solutions for its customers – with a specialized focus on risk sharing programs for Professional Employer Organizations, staffing companies and large organizations.
Menes Chee, a Senior Managing Director at Blackstone, said, “SUNZ is exceptionally well positioned for future growth. Blackstone is excited to partner with their first-rate management team to help the company continue to expand into new markets and verticals so it can best serve its customers.”
Steve Herrig, CEO of SUNZ, said, “This partnership should propel SUNZ to a new level by enabling us to pursue new market opportunities and expand our national footprint. We look forward to a synergistic collaboration with Blackstone and to further accelerating the expansion of our specialized programs.”
About SUNZ Holdings, LLC
SUNZ Holdings, LLC is the parent company of SUNZ Insurance, a national workers’ compensation insurance company headquartered in Bradenton, Florida. SUNZ Insurance develops unique workers’ compensation programs that deliver innovative and tailored solutions to protect businesses and their employees. SUNZ understands its clients need for fluidity, offering workers’ compensation insurance options that do not begin and end with the printed policy. SUNZ believes that a safe work environment and healthy workforce is the foundation for a successful business. There are several affiliate companies within the SUNZ Holdings enterprise that provide related and ancillary services to the workers compensation insurance industry. These companies include Next Level Administrators, WatchPoint, Avalon Subrogation Partners, and Ascential Care Partners. For more information, visit www.sunzinsurance.com.
Blackstone is one of the world’s leading investment firms. We seek to create positive economic impact and long-term value for our investors, the companies we invest in, and the communities in which we work. We do this by using extraordinary people and flexible capital to help companies solve problems. Our $584 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets and secondary funds, all on a global basis. Further information is available at www.blackstone.com. Follow Blackstone on Twitter @Blackstone.
About Tactical Opportunities
Tactical Opportunities (Tac Opps) is Blackstone’s opportunistic investment platform. The Tac Opps team invests globally across asset classes, industries and geographies, seeking to identify and execute on attractive, differentiated investment opportunities. As part of the strategy, the team leverages the intellectual capital across Blackstone’s various businesses while continuously optimizing its approach in the face of ever-changing market conditions.